A prospective employer, left, speaks with a prospective employee during a jobs fair in Oak Brook, Ill. A measure of future U.S. economic activity rose in May to the highest level in four years, a sign the economy will keep growing but at a modest pace. The Conference Board said Thursday that its index of leading economic indicators rose 0.3 percent last month, after a 0.1 percent drop in April.By CHRISTOPHER S. RUGABER
AP Economics Writer
WASHINGTON – The sluggish job market is weighing on the U.S. economy three years after the Great Recession ended. And the signs suggest hiring may not strengthen any time soon.
A measure of the number of people applying for unemployment benefits over the past month has reached a six-month high, the government said Thursday. The increase suggests that layoffs are rising and June will be another tepid month for hiring.
Sales of previously occupied homes fell in May. And manufacturing activity in the Philadelphia region contracted for the second straight month in June.